I’m not printing this to bring a ton of mockery down on Gerald, I just can’t believe the misfortune he had as far as timing.
Item No. 1:
Commenter Gerald, in the comments below:
Last time I checked, CAR is in the mushy middle of ticket revenue where a lot of teams reside. The other blogger cited disgraced data from the Team Marketing Report. You and i have now looked at their ticket prices directly. Higher prices for some, lower for others, many more suites in CAR, CAR controls their arena. There is this idea among the Oilogosphere (do i have that right?) that the Oil rake in the cash and are an elite revenue team. I believe you guys are sadly mistaken…
…the restraints were put in place to save teams like the Oilers just as much as southern teams (heresy!! Burn him!!!”)
Item No. 2:

Hurricanes Hockey LP generated total revenue of $65 million for the nine-month period that ended March 31, 2010. That was a 5.8 percent decline from the same period in the previous season, when the Canes made the playoffs and advanced all the way to the conference finals.
There was an interesting little table in that story, which I’m including here. I think the revenue sharing thing is a bit misleading - I suspect that the ‘Canes got about $10MM in shared revenue and $13MM in revenue sharing. That sort of implies that they’re getting a full share of revenue sharing, which strikes me as a bit unusual - my recollection is that they weren’t entitled to that in 2008-09 because they didn’t make the revenue growth goals and they were down last year, although I might be thinking of 2007-08; I remember one of those MacLean-Bettman interviews where the US teams were whining about the Canadian dollar screwing up the revenue sharing program. My recollection is that the league has some discretion there - I’d have to do some more research to check out whether or not that’s actually the case.
Item No. 3:
“We have a $3-billion industry (NHL), we’re a $120-million business and there are no borders in our business.”
-Alan Watt, August 24, 2010
I honestly don’t know how you can arrive at the conclusion that Gerald arrived at that the Oilers are a poor team. The annual revenue sharing payments alone should dispel that. Of course, I don’t know how guys who own a $120MM business in a league with a $58MM salary cap and a salary range premised on the idea that teams shoud be able to spend 57% of their revenues on salaries can go to City Council and say that the team isn’t viable. I also don’t understand why you’d say you have a $120MM business while you’re simultaneously pleading poverty. Usually even the really poorly run teams know how to present a certain image when they’re asking for a handout. The Oilers can’t even do that properly. As for Gerald, well, it’s like the universe was conspiring against him on this point.
Hat tip to Julian and Derek Zona for the links in the comments.